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The week's question
In December 2024, in the thread "Re: BRK: Why Not XOM?", BreckHutHigh asked the members: "What about the long road trips with kids?" This week it is put to everyone again. The button below opens the small thread re-asking it - read what others have said so far, then give your own answer as an ordinary reply.
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Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A)
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Author: Mark   😊 😞
Number: of 21944 
Subject: Re: Munger's beef with GAAP changes
Date: 08/13/24 10:18 AM
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No. of Recommendations: 8
Was that because Berkshire would have to pay taxes on them?

No, it wasn't a tax issue. Had you listened closely, you would have understood that it was absurd to report unrealized gains and losses in GAAP because it is so volatile. What if the last day of the quarter happens to have seen a broad 5% decline in markets, only to see the 5% recovered in the first week of the next quarter? It's absurd to have GAAP move rapidly up and down due to market vagaries. It makes GAAP mostly useless for such companies.

and he just hated giving a more accurate picture to the shareholders?

And this is just plain ridiculous. Berkshire has always given an accurate accounting of the value of all holdings regardless of what is required to be accounted for in GAAP. In their annual letters, over all the decades they've existed, they literally compare their value to common benchmarks.
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This community has written 21,448 posts about Berkshire Hathaway. The article-length ones it recommended most:
BRK: Why Not XOM? · 62 recs · 2024
Second quarter comments · 60 recs · 2023
Berkshire's Profit Contributors · 57 recs · 2023
Summary of 2Q 2026 · 54 recs · 2026
3Q Summary · 53 recs · 2024
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